Mcx Gold Silver Market Trend & News Update

Gold:-MCX settled down -0.58% at 29592 on profit booking doused by robust U.S. employment data that underpinned expectations that the Federal Reserve could raise interest rates this year.Trading Ideas:Gold trading range for the day is 29279-30121. Gold dropped on profit booking doused by robust U.S. employment data that underpinned expectations that Fed could raise interest rates this year. A pitched battle over the right path for U.S. interest rates is expected at next week's Fed policy-setting meeting.

Silver :-

MCX settled down -0.62% at 37569 on profit booking but downside seen limited as investors scaled back expectations on how fast and how far the Federal Reserve might raise interest rates this year after U.S. employment data showed strong jobs growth combined with low wages.Trading Ideas:Silver trading range for the day is 36939-38495.

Non-farm payrolls increased by 242,000 jobs last month, while the unemployment rate held at an eight-year low of 4.9 percent.